Supplemental 403(b) plan

Take advantage today

You are immediately eligible to enroll and begin contributing.

Starting early has its advantages

Employee contributions

You may contribute as much as 100% of your annual includible compensation up to the maximum IRS contribution limit. 

You may increase or decrease the amount you contribute to the plan as often as your employer allows.

Catch-up contributions

Your plan allows you to contribute additional contributions as follows: 

Accessing your money 

Distribution events

The following are distribution events for your 403(b) plan. A 10% federal early withdrawal tax penalty may apply for withdrawals prior to age 59½.

• Attaining age 59½
• Retirement or severance from employment*
• Your death or total disability
• Hardship withdrawals

Loans

Tax-free loans make it possible for you to access your account without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income and may be subject to a 10% federal early withdrawal tax penalty if you are under 59½ years old.

A loan application fee of $75 per loan may apply (if permitted under state law).

An array of investment choices  

Performance 

You decide how to invest all contributions among the mutual funds and the Fixed-Interest Option* offered under the Voluntary 403(b) retirement plan for Boston Public Schools. 

The wide array of investment options available in your 403(b) retirement plan will provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences. 

• View the entire list of funds and performance available in your Voluntary 403(b) retirement plan (Portfolio Director).

* Policy Form series GFUA-315, a group fixed unallocated annuity issued by The Variable Annuity Life Insurance Company, Houston, Texas. 
 

Remember, this plan represents a long-term investment. Investment values of the mutual funds you choose will fluctuate, and there is no assurance that the objective of any fund will be achieved. Mutual fund shares are redeemable at the then-current net asset value, which may be more or less than the original cost. Bear in mind that investing involves risk, including possible loss of principal.